An oil subsidiary in Argentina has been mining Bitcoin with the remaining gas they have. This means they are still very fond of Bitcoin and know that Bitcoin is also part of a bright future apart from the Oil they drill every day. Hopefully more people can save Bitcoin so that the price can be much more expensive than last year's ATH.
There are people who think that bitcoin is a scam but still invest in bitcoin. Believing in something and use something to earn money is two different things. They are mining BTC that doesn't mean they love bitcoin. They just making use of their extra energy source to get some profits. I do not know they will sell bitcoin or hold them for the future but most most of the time bitcoin miners sell of their btc to bear mining expenses or books profits.
For sure there is truth in the assertion that using bitcoin or being involved in bitcoin neither assures knowledge or bullishness about bitcoin, yet I take issue with your assertion that "most of the time" bitcoin miners sell their BTC - even though they do need to perform calculations regarding how much BTC to hold and to consider how much speculation that they can do in regards to how much they might feel that they are already "invested in BTC" merely because they have a business built around picks and shovels (rather than the asset itself). So, in that regard, miners will likely need to make sure that their business is sustainable before they get too caught up upon speculating in ways that might end up jeopardizing the survivability of their business.
I do not know they will sell bitcoin or hold them for the future but most most of the time bitcoin miners sell of their btc to bear mining expenses or books profits.
Every halving mining reward decreases by half, that is why we have 4 year cycles of bitcoin bear and bull. But some people can't hold the full cycle. For example I sold bitcoins in 2015. That was one of my worst mistakes in the whole life.
I do agree with the idea that getting through your first whole cycle can be amongst the most challenging because you are likely to be in the process of still learning about bitcoin and also learning about how your particular financial/psychological situation fits with bitcoin as part of your investment (or use case) thesis.
Based on your not giving us very many facts to work with, we will have to take you at your word in regards to your assessment that selling bitcoin in 2015 was amongst the worst of your life mistakes.. sometimes we might be a bit unrealistic if we are overly beating ourselves after looking retrospectively at what we did (based on information that we then had) and what we believe that we should have done (based on information that we currently have). Sure we can learn from past mistakes, but isn't there also a presumption that we are acting in our best interests based on information that we then have.. and yeah, we make mistakes and hopefully learn the right lessons... because we are never going to be in that exact situation again because neither the water nor the bridge is the same when it flows through on the next time around.
Some people are able to get some pretty decent ideas regarding why they are in bitcoin and to figure out their balances after a whole cycle, but still some people need more time to stop themselves from waffling - or to figure out their level of investment aggressiveness if they might still be accumulating wealth or if they might consider that they have advanced into some kind of a more stable maintenance stage.
Don't get me wrong, even the accumulation stage could involve a lot of solidness if the investor has a some pretty decent sets of ideas regarding why they are in bitcoin in the first place. And, don't get me wrong, even if someone might advance past accumulation stage into maintenance stage and even get into some kind of liquidation stage, the dilemmas are not likely to completely disappear because many of us would prefer to have some kind of maximization of profits - and we get tempted when we see material (and lifestyle) wealth of other people, and might get tempted into wanting some kind of material/lifestyle wealth that we had not previously considered that we wanted
**.. that is if we are able to get past the mere comfort status of not having to worry about basic needs and dealing with challenges that the macro circumstances might throw our way.
**Biodom's below post from yesterday can surely serve as an example of a kind of opulence that requires at least a Billion in wealth to get there and to sustain something like that..
"The One"..."most expensive" house in US...
https://www.youtube.com/watch?v=UEJO5s29AhcWho knows, maybe someone who "ate" LUNA can afford it, lol.
Maybe a first block of a future Citadel....eventually.
BTW, seller/developer claimed it to be worth $500 mil, then tried to get $295 mil, end up selling for $126 mil+12% commish ($141 mil).
Every halving mining reward decreases by half, that is why we have 4 year cycles of bitcoin bear and bull. But some people can't hold the full cycle. For example I sold bitcoins in 2015. That was one of my worst mistakes in the whole life.
So you sold Bitcoin when it was worth between $200 and $300, but the question is when you bought it, so did you make a profit or did you sell at a loss? However, you had a lot of time to buy Bitcoin again, because during 2016 it cost only about $400, and at the beginning of 2017 it was about $1000, and during 2018 it dropped again close to $3000.
One full cycle is not a problem, 2 or 3 are a real challenge
I am not totally disagreeing with you Lucius because it is likely true that a decent number of people will continue to attempt to live at the extremes of their limitations and even beyond their means and continue to contribute to their ongoing drama and needs to sustain the standard of living in which they have grown accustom, and maybe it is a bit of a "baller" mentality, which has not been my investment and/or lifestyle approach - and it is likely true that even a baller approach could end up generating some additional value.... but such a lifestyle might not be for everyone.
My overall presumption has been that the longer that any of us are in bitcoin, the more likely that we should be able to get our shit in order and to be able to handle more and more of BTC's almost inevitable ongoing volatility.